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ABSTRACT
Nigeria, the most populous country in Africa, has been grappling with numerous economic challenges in recent years. The country's economy is heavily reliant on crude oil exports, making it vulnerable to fluctuations in global oil prices. The decline in oil prices in 2014, coupled with political instability and widespread corruption, has led to a significant economic downturn in Nigeria. The economic downturn has had farreaching consequences for Nigerian households. Many households are struggling to make ends meet due to high rates of unemployment, inflation, and poverty. The cost of basic necessities such as food, housing, and medical care has become increasingly expensive for families. Financial hardship has been linked to housing prices, which has prevented families from spending money on essential items such as clothing, food, healthcare, and education. Studies have shown that many households have experienced financial instability and are susceptible to shocks. Households are vulnerable to financial hardship due to changes in life circumstances, which can range from trouble meeting basic expenses to declaring bankruptcy. Economic hardship has also strained family relationships. Moreover, gender dynamics play a crucial role in household survival, as women are often the ones who suffer the most from financial difficulties. Women are usually responsible for managing household finances and making tough decisions about spending. They often turn to informal work or self-employment to supplement their income.
